Inventory Continues To Fall

The spring buying season is not enticing protentional sellers off the sidelines, according to the latest weekly survey from Altos Research.

• Only 410,000 single-family homes are currently on the market, down almost 1% from last week and now down 16.0% from the start of the year. These are the lowest levels we have seen since June of 2022.

• Only 66k new single-family listings this week, down 3% from last week.

Prices. The median price for single-family homes is $437,500 this week, up 1.0% from last week and now up 8.0% from the start of the year ($405,000).

• Just over 30% of the homes on the market have taken a price cut, down from 38% at the start of the year.